IPPP vs. FPE ETF Comparison

Comparison of Preferred-Plus ETF (IPPP) to First Trust Preferred Securities and Income ETF ETF (FPE)

IPPP

Preferred-Plus ETF

IPPP Description

The investment seeks to provide income. The fund invests at least 80% of its net assets (plus any borrowings made for investment purposes) in a portfolio of preferred securities issued by U.S. and non-U.S. companies. It may invest in preferred securities of all issuer capitalizations. The fund may also invest in publicly-traded partnerships (“PTPs”). The Advisor intends to maintain approximately 10% asset exposure to a credit spread options strategy, although market conditions may dictate additional exposure.

Grade (RS Rating)

Last Trade

$10.32

Average Daily Volume

1,224

Number of Holdings ^*

* may have additional holdings in another (foreign) market

FPE

First Trust Preferred Securities and Income ETF ETF

FPE Description

The investment seeks total return and to provide current income. The fund invests at least 80% of its net assets (including investment borrowings) in preferred securities ("Preferred Securities") and income-producing debt securities ("Income Securities"). It invests in securities that are traded over-the-counter or listed on an exchange. The fund may invest in U.S. and non-U.S. debt and equity securities that are traded over-the-counter or listed on an exchange. It invests at least 60% of its net assets in securities rated investment grade (BBB-/Baa3 or higher) at the time of purchase. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$17.82

Average Daily Volume

1,212,299

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	IPPP	FPE
30 Days	-1.46%	-1.38%
60 Days	-1.73%	-1.19%
90 Days	2.30%	1.14%
12 Months	17.85%	16.31%

7 Overlapping Holdings

Symbol	Grade	Weight in IPPP	Weight in FPE	Overlap
AGNC	C	1.41%	0.01%	0.01%
AQNB	C	1.26%	0.46%	0.46%
CMSD	C	0.6%	0.11%	0.11%
SREA	D	1.18%	0.2%	0.2%
T	A	0.93%	0.18%	0.18%
UZE	B	1.35%	0.52%	0.52%
WTFCP	A	1.24%	0.18%	0.18%

IPPP Overweight 5 Positions Relative to FPE

Symbol	Grade	Weight
NRUC	D	0.97%
TBC	C	0.58%
PRS	C	0.57%
RZB	C	0.57%
SOJD	D	0.54%

IPPP Underweight 11 Positions Relative to FPE

Symbol	Grade	Weight
BIL	A	-1.2%
USFR	A	-1.19%
SHV	A	-1.08%
BPYPN	C	-0.36%
BPYPO	D	-0.31%
AIZN	D	-0.2%
CMSC	C	-0.16%
CHSCM	D	-0.13%
MGR	D	-0.04%
DTW	D	-0.03%
ACGLO	D	-0.0%

IPPP: Top Represented Industries & Keywords

Industries: Other Banks - Regional REIT - Residential Telecom Services